Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) SVP Sells 658 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Paylocity Stock Up 2.0 %

Shares of PCTY stock opened at $170.23 on Friday. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $206.28. The company has a market cap of $9.61 billion, a PE ratio of 49.49, a price-to-earnings-growth ratio of 3.91 and a beta of 0.95. The business’s 50 day moving average is $157.87 and its two-hundred day moving average is $154.58.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. The business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. Paylocity’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. As a group, equities analysts expect that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research analyst reports. Piper Sandler lowered their price target on Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group dropped their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup decreased their price target on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Finally, TD Cowen decreased their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.87.

Institutional Trading of Paylocity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCTY. Price T Rowe Associates Inc. MD lifted its holdings in shares of Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after buying an additional 278,607 shares during the last quarter. Vanguard Group Inc. raised its stake in Paylocity by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock valued at $685,483,000 after purchasing an additional 13,962 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Paylocity by 35.0% in the 1st quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after purchasing an additional 621,946 shares during the period. Capital International Investors increased its holdings in shares of Paylocity by 119.0% during the 4th quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after purchasing an additional 658,057 shares during the period. Finally, Liontrust Investment Partners LLP increased its holdings in shares of Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.